A lot of this is the direct result of trying to run a government like a business. If we instead left some things that are unprofitable but important to government then we'd probably get better results than having businesses do those things expecting a profit. This was the model in the 30's, 40's and 50's that led to the "golden age" that people are now trying to recapture.

You're describe an age where the government was a wash with surplus dollars. Secondly, most of these research institutions run as non-profits that effectively just cover costs (but run a large hedge fund as a side business)

The escalation in costs have come from: - Incentives around US News College rankings (and the amenities that drive the rankings) - Administrative (non-teaching, non-research) bloat

Research is definitely in need of reform though, but not sure these outcomes are actually causal or even corrilated.

The golden age people are trying to recapture is the aftermath of a world war that decimated almost every major power except the US and then the US happily rebuilt everyone’s economies in exchange for riches and power. The 21st century looks very different and only really MAGA folks are looking to rewind the clock as a way to move forward.

The 1940s you get for free, what with the war and all nothing was ever going to be very tolerable. But what about the 1930s is a "golden age" in your opinion? What exactly is it from that era that you wish we had more of?